This paper examines the effects on equity Home Bias of two mechanisms adopted by Euronext when it was formed by the merger of four European countries' stock exchanges in 2002. Home Bias is the well-documented tendency of investors everywhere to over-invest in domestic securities relative to...

Using the monthly returns of 37,854 firms in 23 developed markets over the period 1990-2015, we document that multinational companies earn higher returns than domestic companies by 24 basis points per month. This finding is further confirmed by using a sample of 18,996 U.S. firms over the period...

Humans remain exposed to ongoing security risks. Energy security is closely associated with human life and productive activity and is strongly related to the increasing number of natural extreme events over the past few decades. Therefore, finding the exact relationship between two factors will...

Since the Eurozone Crisis of 2010-12, a critical debate on the viability of a currency union has focused on the role of a fiscal union in adjusting for country heterogeneity. However, a fully-fledged fiscal union may not be politically feasible. This paper develops a two-country general...